Gold failed to create support on previous expected area.

in Account Booster 👍3 years ago

Remember - This is Holidays week, low volume, high spreads, crazy volatility and manipulation.

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From yesterdays post - https://steemit.com/hive-119463/@mycryptostalker/gold-trading-week-51-december-20-24 -

We had as always prepared for the 3 options markets can give us - up, down, consolidation (with small range).
So after we see that the previous resistance failed to resist as a support we expect a deeper pullback before continuation to the upside or testing the lower range of the consolidation zone from previous week ($1770)

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If we see the daily chart, even when we closed bearish, now we are seeing with Asian open that we are having a pullback to create the daily upper wick. I do expect a continuation to the downside and until a clear support isn't seen my bias would be bearish.

Remember that last week we had a bearish start until Wednesday when we saw the big lower wick with a nice rejection and we continued to the upside.
So until further confirmations there is no trade at the moment.

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THIS IS NOT FINANCIAL ADVICE OR SUGGESTED TRADE.
DO YOUR OWN RESEARCH.
THIS IS ONLY A JOURNAL FOR MY USE OF MY TRADING IDEAS AND PROVE MY SETUPS.
IMPORTANT!!! ALWAYS USE STOP LOSS AND REMEMBER THAT LEVERAGED MARKETS ARE RISKY AND YOU CAN LOOSE ALL YOUR MONEY. NEVER INVEST WHAT YOU CAN’T AFFORD TO LOOSE.

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